Common use of RELOCATION OF PREMISES Clause in Contracts

RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocation.

Appears in 3 contracts

Samples: Office Lease, Office Lease (Under Armour, Inc.), Office Lease (Under Armour, Inc.)

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RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense right to request Tenant to move from relocate the Premises to another suite part of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or at any time after the Project (the “Relocation Premises”) in accordance with the plans execution and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out delivery of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective Lease upon at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within least thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they prior Notice to Tenant. The new premises (“New Premises”) shall be substantially similar to the configuration of the original premises (“Original Premises”) as described in this Lease. The New Premises shall be leased to Tenant on the same terms and conditions as provided in this Lease, except if the New Premises contains less square footage, then there shall be a proportionate adjustment in Rent. If Tenant requests an increase in the size of the Premises and the Landlord can accommodate this, then there shall be a proportionate increase in rent. Landlord shall pay reasonable expenses incurred moving Tenant’s Property to the New Premises. Landlord, at its expense, shall improve the New Premises with improvements substantially similar to those in the Original Premises. At the time of such relocation, Tenant’s reasonable moving expense shall include, without limitation, the cost of replacing Tenant’s signage at the New Premises, as well as the expense cost of moving Tenant’s property, including, but not limited to, Tenant’s furniture, telecommunications equipment, supplies, telephonesthe cost of replacing unused letterhead stationary, and telephone equipment to business cards of Tenant showing the Relocation address of the Original Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date Upon completion of such relocation, the New Premises shall be the Premises for all purposes under the Lease and the parties shall immediately execute an amendment to this Lease will be amended by deleting setting forth the description relocation of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light the reduction of such relocationBase Rent, if any.

Appears in 3 contracts

Samples: Sublease Agreement (Aegerion Pharmaceuticals, Inc.), Sublease Agreement (Aegerion Pharmaceuticals, Inc.), Sublease Agreement (Aegerion Pharmaceuticals, Inc.)

RELOCATION OF PREMISES. With respect Landlord reserves the unrestricted and unconditional right, upon one hundred eighty (180) days’ notice from Landlord to each Renewal TermTenant (a “Relocation Notice”), to relocate the portion of the Leased Premises located on the sixth (6th) floor as of the date hereof (as the same may be relocated from time to time, the “Relocation Premises”) and to provide and furnish Tenant with replacement premises for such Relocation Premises elsewhere within fifteen the Building with such replacement premises to be approximately the same size, same configuration and buildout as the Relocation Premises and located vertically or horizontally contiguous to the remainder of the Leased Premises (15) days of Landlord’s receipt of written notice by such replacement premises being referred to as the “Substitute Premises”), and to thereafter relocate Tenant exercising its option from the Relocation Premises to renewthe Substitute Premises. If Landlord relocates Tenant to the Substitute Premises, then Landlord shall have the one time rightshall, at its sole cost and expense to request Tenant to move from expense, improve the Substitute Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move a manner substantially comparable to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any immediately preceding such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating on the date specified on the Relocation Premises so that they Notice Landlord shall be substantially similar move the equipment, personal property and personnel of Tenant to the PremisesSubstitute Premises and shall reinstall and reconstruct such improvements, as well as equipment and personal property in the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, Substitute Premises in a manner and telephone equipment fashion reasonably comparable to the Relocation Premises. Any Upon the exercise by Landlord of the foregoing relocation right, this Lease and each of the terms, covenants and conditions hereof shall remain in full force and effect and be applicable to the Substitute Premises, including, no increase in (a) the Base Rent payable by Tenant or (b) Tenant’s Proportionate Share. In such move event, effective as of the date specified in the Relocation Notice, Tenant shall vacate and surrender the Relocation Premises in accordance with the terms and conditions of this Lease, and the Substitute Premises shall thereafter be deemed to be substituted for the Relocation Premises and Tenant shall have no further rights or interests in or to the Relocation Premises. After delivery of a Relocation Notice, the provisions of this Section 7.23 shall be completed over a weekend or during off hours as to minimize any interruption self-operative; however, at either party’s request, Landlord and Tenant shall enter into an amendment of Tenant’s’ business. Occupancy this Lease confirming the relocation of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationPremises.

Appears in 2 contracts

Samples: Lease Agreement (Entrada Therapeutics, Inc.), Lease Agreement (Entrada Therapeutics, Inc.)

RELOCATION OF PREMISES. With respect to If the Premises, or if the Premises consist of separate units, then each Renewal Termunit that contains an area of 4,000 square feet or less, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renewagrees that at any time before or during the term hereof, Landlord shall have the one time right, at its sole cost and expense right to request Tenant to move from relocate the Premises described herein ("existing Premises") to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in other space ("new Premises") within the Building or the Project (the “Relocation Premises”) Property in accordance with the plans following terms: (a) the size and specifications originally prepared decor of the new Premises shall be substantially the same as the size and decor of the existing Premises unless Landlord and Tenant otherwise agree in writing; (b) moving costs, and placement of all Tenant’s trade fixtures, equipment, furniture, furnishings and other personal property belonging to Tenant, and the cost of installing permanent improvements (as distinguished from trade fixtures, equipment, furniture, furnishings and other personal property belonging to Tenant) in the new Premises, so that placement of all Tenant’s trade fixtures, equipment, furniture, furnishings and other personal property belonging to Tenant and the permanent improvements therein are substantially the same or better than those in the existing Premises, shall be borne entirely by Landlord; (c) monthly rent shall xxxxx in full during the period, if any, that Tenant is unable to conduct business in either the existing Premises or the new Premises; (d) indirect costs incurred by Tenant as a result of the relocation, including cost incurred in changing addresses on stationery, business cards and advertising shall be reimbursed to Tenant by Landlord in an amount not to exceed $500 upon presentation to Landlord of paid bills for said incurred indirect costs; (e) Landlord shall give Tenant at least 60 days prior written notice of Xxxxxxxx's intent to relocate Tenant to the new Premises; (f) the payments of new monthly base rent shall commence on the earlier of ten (10) days after Landlord has completed the physical relocation and installation of permanent improvements in the new Premises or the date that Tenant first opens for business in the new Premises; and (g) Landlord and Tenant shall promptly execute an amendment to this Lease reciting the relocation of the Premises and any changes in the rentable floor area of the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises monthly base rent and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationadditional rent payable hereunder.

Appears in 1 contract

Samples: Service Office Lease (Puredepth, Inc.)

RELOCATION OF PREMISES. With respect For the purpose of maintaining an economical and proper distribution of tenants acceptable to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renewLandlord throughout the Building, Landlord shall have the one one-time right, at its sole cost and expense right during the Term to request Tenant to move from relocate the Premises to another suite within the Building, provided that (a) the rentable and usable area of equal or greater sizethe new Premises is neither less than ninety percent (90%), amenities nor more than one hundred twenty percent (120%), of the rentable and decorusable area of the existing Premises, including build-out (b) if Tenant relocates into larger Premises under the provisions of this Section, then during the remainder of the initial Term the total Base Rent and Additional Rent shall not increase after such relocation space, for comparable dates as Tenant would otherwise pay in the Building existing Premises prior to such relocation, (c) Landlord shall pay the cost of providing tenant improvements in the new Premises, which shall be substantially comparable to those in the existing Premises, and (d) Landlord shall pay reasonable costs (to the extent such costs are submitted in writing to Landlord and approved in writing by Landlord prior to such move, which approval shall not be unreasonably withheld, conditioned or delayed) of (i) moving Tenant’s Trade Fixtures and personal property to the Project new Premises, (ii) relocating wiring and cabling to the “Relocation new Premises, and (iii) new stationery and business cards to replace the then existing stock on hand in accordance with the plans Premises and specifications originally prepared for which may be required by any change in address. Landlord shall deliver to Tenant written notice of Landlord’s election to relocate the Premises, using materials specifying the new location and the amount of like quality as those used in the build-out of the original Premises providedrent payable therefor, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen at least sixty (1560) days after receipt of Landlord’s request for relocation may elect not to move prior to the Relocation Premises and in lieu thereof date the relocation is to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationeffective.

Appears in 1 contract

Samples: Lease Agreement (Ditech Networks Inc)

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RELOCATION OF PREMISES. With respect For the purpose of maintaining an economical and proper distribution of tenants acceptable to each Renewal TermLandlord throughout the Building, within fifteen commencing on the first day of the twenty-fifth (1525th) days month of Landlord’s receipt the initial Term of written notice by Tenant exercising its option to renewthis Lease, Landlord shall have the one right from time right, at its sole cost and expense to request Tenant time during the Term to move from relocate the Premises within the Building (but during the initial Term of this Lease, Landlord shall not exercise such right to another suite relocate Tenant more than one (1) time), provided that (a) the rentable and usable area of equal or greater sizethe new Premises is of equivalent size to the existing Premises, amenities subject to a variation of up to fifteen percent (15%), (b) Landlord, not Tenant, shall pay the cost of providing tenant improvements in the new Premises (Tenant shall have no liability for any construction management fee related to any such tenant improvements), which shall be substantially comparable to those in the existing Premises, (c) if Tenant relocates into larger Premises under the provisions of this Section, then during the remainder of the initial Term the total Base Rent and decor, including build-out of Additional Rent shall not increase after such relocation space, for comparable dates as Tenant would otherwise pay in the Building or existing Premises prior to such relocation, (d) Landlord shall pay reasonable costs (to the Project extent such costs are submitted in writing to Landlord and approved in writing by Landlord prior to such move) of (i) moving Tenant’s Trade Fixtures and personal property to the “Relocation new Premises, (ii) relocating wiring and cabling to the new Premises and (iii) new stationery and business cards to replace the then existing stock on hand in accordance with the plans Premises and specifications originally prepared for which may be required by any change in address, and (e) the new Premises shall be located on the ground floor of the Building. Landlord shall deliver to Tenant written notice of Landlord’s election to relocate the Premises, using materials specifying the new location and the amount of like quality as those used in the build-out of the original Premises providedrent payable therefor, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen at least one hundred twenty (15120) days after receipt of Landlord’s request for relocation may elect not to move prior to the Relocation Premises and in lieu thereof date the relocation is to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationeffective.

Appears in 1 contract

Samples: Part of Lease Agreement (Inpixon)

RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days At any time after Xxxxxx's execution of Landlord’s receipt of written notice by Tenant exercising its option to renewthis Lease, Landlord shall have the one time right, in Landlord's sole discretion, upon providing Tenant sixty (60) days' written notice (“Relocation Notice”), to relocate the Premises to a new location in the Building (the “New Premises”). The New Premises shall be described in the Relocation Notice. Landlord will endeavor to provide Tenant with New Premises substantially similar in size and location to the existing Premises. Landlord shall improve the New Premises, at its sole cost and expense expense, with tenant improvements of comparable quality and utility to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, tenant improvements in the Building or the Project (the “Relocation original Premises”) in accordance with the plans and specifications originally prepared . Landlord shall arrange for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s propertypersonal property and relocating Tenant’s operations from the existing Premises to the New Premises and shall pay the reasonable costs thereof, including, but not limited toto the relocation of any utilities and wiring, the cost of new business cards, stationery and marketing material. If Landlord relocates Tenant to the New Premises, then this Lease and each and all of the agreements, covenants, conditions and provisions of this Lease shall remain in full force and effect and be applicable to the New Premises, except that (i) a revised floor plan shall become part of this Lease and shall reflect the location of the New Premises, (ii) Tenant’s furniture, equipment, supplies, telephones's Percentage Share shall be adjusted to reflect any increase or decrease in the rentable square feet of the New Premises, and telephone equipment (iii) the Monthly Rent shall be equitably and proportionately adjusted to reflect any increase or decrease in rentable square feet of the New Premises. If Xxxxxx refuses to permit Xxxxxxxx to move Tenant to the Relocation New Premises. Any such move , then, in addition to Landlord's other remedies under this Lease for a default by Tenant, Landlord shall be completed over a weekend or during off hours as have the right to minimize any interruption of Tenant’s’ business. Occupancy terminate this Lease by written notice to Tenant within ten (10) days following the end of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationsixty (60) day notice period.

Appears in 1 contract

Samples: Work Agreement

RELOCATION OF PREMISES. With respect For the purpose of maintaining an economical and proper distribution of tenants acceptable to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renewLandlord throughout the Project, Landlord shall have the one right after the fifth (5th) anniversary of the Commencement Date and from time right, at its sole cost and expense to request Tenant time during the Term thereafter to move from relocate the Premises within the Project, provided that (a) the rentable and usable area of the new Premises is of equivalent size to another suite the existing Premises, subject to a variation of equal or greater sizeup to ten percent (10%), amenities and decor, including build-out (b) Landlord shall pay the cost of such relocation space, providing tenant improvements in the Building or new Premises, which shall be substantially comparable in layout to those in the Project existing Premises, and the costs of replacement business cards and stationery, provided that such costs are approved by Landlord prior to being incurred, which approval shall not be unreasonably withheld, and (c) Landlord shall pay reasonable costs (to the “Relocation extent such costs are submitted in writing to Landlord and approved in writing by Landlord prior to such move) of moving Tenant's Trade Fixtures and personal property to the new Premises”) in accordance with the plans and specifications originally prepared for . Landlord shall deliver to Tenant written notice of Landlord's election to relocate the Premises, using materials specifying the new location and the amount of like quality as those used in rent payable therefor, at least sixty (60) days prior to the build-out date the relocation is to be effective. Notwithstanding the foregoing, Landlord agrees that it shall not exercise its right to relocate Tenant under this Section 32 for the sole purpose of expanding the premises of a tenant of the original Building whose entire premises prior to such relocation of Tenant consist of one floor or less of the Building, unless such expansion is reasonably anticipated by Landlord, whether in single transaction or a series of transactions, to result in such tenant occupying more than two full floors of the Building. This Section 32 shall be of no force and effect at such times as Tenant is leasing, directly from Landlord, whether by way of amendments to this Lease or the execution of new direct leases with Landlord, at least all of the rentable square footage of at least one floor of the Building. If the relocation of the Premises provided, however, that in the event of receipt of any such noticeis not acceptable to Tenant, Tenant shall have the right (by delivering written notice to Landlord delivered not more than fifteen within ten (1510) days after receipt of Landlord’s request for 's relocation may elect not to move to the Relocation Premises and in lieu thereof notice) to terminate this Lease. If Tenant so notifies Landlord, Landlord at its option may (i) withdraw its relocation notice, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and event this Lease shall continue and Tenant shall not be relocated, or (ii) accept Tenant's termination notice, in which event this Lease shall terminate effective as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall date the relocation was to be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationeffective.

Appears in 1 contract

Samples: Part of Lease Agreement (Imall Inc)

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